HMRC Admin 17 Response
Joined: 1/20/2021
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RE: Tax Implications
Hi ,
No.
Your savings arise out of your income received and taxed in Ireland, in a tax year you were not tax resident in the UK.
Any interest arisign from those savings, will be taxable and should be declared.
Thank you . -
RE: Remitted foreign savings (arising basis)
Hi
BPS WONG ,
Any unremitted foreign income or capital gains must be declared in SA109 for the tax year the income or
capital gains were not remitted to the UK, in the remittance section on page
2. They should be declared in box 34 for income and 35 for capital gains, with a detailed breakdown shown in box 40.
If the income or gain is remitted to the UK in a later tax year, then it will be taxable in that later tax year.
See :
www.gov.uk/government/publications/self-assessment-residence-remittance-basis-etc-sa109 .
Thank you .
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RE: Foreign interest and dividends
Hi,
If you have foreign interest which is untaxed and below £2000, you can declare in box 3 of SA100 page TR3.
If you did not include in this box but instead declared the interest in box 4 of SA106 (foreign) page F3, then that is fine.
There would be no need to amend your return, as there would be no difference to the tax calculation .
Thank you . -
RE: How to for Letter of Confirmation of Fiscal Residence ( not certificate)
Hi ,
They are one and the same.
Where a foreign income is declare on a certificate of residence request and the criteria is met, we issue what we call a certificate of residence,
however, the certificate we issue, states that it is "Certificate of UK fiscal residence".
Thank you . -
RE: Sales of shares from joint account with late husband
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RE: Switching within Stocks and Shares ISA
Hi ,
Provided they remain in the same ISA, there would be no implication.
If they are removed and placed in a different ISA, then they will be considered part of this years £20000 threshold.
Thank you . -
RE: Digital services - VAT charge and registration
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RE: Corporation tax - Trading losses carry back to tax paid at marginal rate
Hi,
When making a loss carry back claim you do not need to specify the rate at which relief will given.
The rate used will be rate for the accounting period in which the losses are being utilised.
When processing your loss carry back claim HMRC will apply the appropriate rate for that specific period.
Thank you . -
RE: SMP where paid in arrears
Hi ,
HMRC is only concerned about when the money was paid not when it was earnt.
If you are required by law to pay SMP in a specific period then you must pay it at that point.
Thank you . -
RE: PAYE reference number - change of director
Hi,
You would need a new PAYE scheme if the legal entity has changed.
If the legal entity has remained the same then you would not need a new scheme .
Thank you .